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CapitalPress.com
Friday, January 24, 2020
Northwest Ag Show
Attorney explains
pitfalls of farm
succession planning
Oregon Farm Bureau braces
for 2020 legislative session
By GEORGE PLAVEN
Capital Press
Seminar kicks off 50th
Northwest Ag Show
By GEORGE PLAVEN
Capital Press
LEGAL
TRUSTEE’S NOTICE OF SALE Loan No: 286394 T.S. No.: NR-51579-OR Ref-
erence is made to that certain deed made by, BRIAN J NEWRONES AND
AMY L. NEWRONES, AS TENANTS BY THE ENTIRETY as Grantor to AMER-
ITITLE, as trustee, in favor of MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS, INC “MERS” SOLELY AS NOMINEE FOR EQUITY ONE, INC., ITS
SUCCESSORS AND/OR ASSIGNS, as Beneficiary, dated 3/26/2003, recorded
3/21/2003, in official records of Marion County, Oregon in book/reel/vol-
ume No. 2095 at page No. 309, fee/file/instrument/microfile/reception No.
XX (indicated which), covering the following described real property situat-
ed in said County and State, to-wit: APN: R63582 Lot 46, WATERFORD AD-
DITION,, City of Keizer, Marion County, Oregon. Property Commonly known
as: 1376 Wisdom Avenue Northeast Salem, OR 97303 Both the beneficiary
and the trustee have elected to sell the said real property to satisfy the ob-
ligations secured by said trust deed and notice has been recorded pursuant
to Section 86.735(3) of Oregon Revised Statutes: the default for which the
foreclosure is made is the grantor’s: The balance of principal and interest
which became due on 4/1/2018, along with late charges, foreclosure fees
and costs any legal fees or advances that have become due. Monthly Pay-
ment $1,168.08 By this reason of said default the beneficiary has declared
all obligations secured by said deed of trust immediately due and payable,
said sums being the following, to-wit: The sum of $124,841.38 together
with interest thereon at the rate of 7.25 % per annum from 9/1/2011 un-
til paid; plus all accrued late charges thereon; and all trustee’s fees, fore-
closure costs and any sums advanced by the beneficiary pursuant to the
terms of said deed of trust. Whereof, notice hereby is given that Darren
J. Devlin, Esq., the undersigned trustee will on 2/24/2020 at the hour of
10:00 AM, Standard of Time, as established by section 187.110, Oregon
Revised Statues, at AT THE HIGH STREET ENTRANCE TO MARION COUNTY
COURTHOUSE 100 HIGH STREET NE, SALEM,OREGON County of Marion,
State of Oregon, sell at public auction to the highest bidder for cash the
interest in the said described real property which the grantor had or had
power to convey at the time of the execution by him of the said trust deed,
together with any interest which the grantor or his successors in interest
acquired after the execution of said trust deed, to satisfy the foregoing
obligations thereby secured and the costs and expenses of sale, including
a reasonable charge by the trustee. Notice is further given that any per-
son named in Section 86.753 of Oregon Revised Statutes has the right to
have the foreclosure proceeding dismissed and the trust deed reinstated
by payment to the beneficiary of the entire amount then due (other than
such portion of said principal as would not then be due had no default
occurred), together with the costs, trustee’s and attorney’s fees and curing
any other default complained of in the Notice of Default by tendering the
performance required under the obligation or trust deed, at any time prior
to five days before the date last set for sale. TRUSTEE’S NOTICE OF SALE
In construing this notice, the masculine gender includes the feminine and
the neuter, the singular includes plural, the word “grantor” includes any
successor in interest to the grantor as well as any other persons owing
an obligation, the performance of which is secured by said trust deed, the
words “trustee” and ‘beneficiary” include their respective successors in
interest, if any. Without limiting the trustee’s disclaimer of representation
or warranties, Oregon law requires the trustee to state in this notice that
some residential property sold at a trustee’s sale may have been used in
manufacturing methamphetamines, the chemical components of which are
known to be toxic. Prospective purchasers of residential property should
be aware of this potential danger before deciding to place a bid for this
property at the trustee’s sale. Darren J. Devlin, Esq 5677 Oberlin Drive Suite
210 San Diego, CA by Darren J. Devlin (IFS# 17905, 01/08/20, 01/15/20,
S165085-1
01/22/20, 01/29/20)
Show.
Corporate activity tax
The Farm Bureau is
spearheading another leg-
islative concept to exempt
agricultural products from
the corporate activity tax,
which Sandau said will
address uncertainty and
inequity among growers
who export their crops.
Oregon’s corporate activ-
ity tax requires businesses
that make more than $1
million annually to pay an
additional 0.57% tax on
that “excess” revenue. It is
expected to raise $2.8 billion
over the 2021-2023 bien-
nium for schools.
But Sandau said the tax
structure presents unique
challenges in farm country.
The tax is not supposed
to apply to out-of-state sales,
though Sandau said agricul-
tural exports are often com-
mingled — such as grain or
berries that are sold to the
same processor or whole-
saler. That makes it diffi-
cult to certify what is actu-
Other legislation
Though bills will not be
publicly released until Jan.
27, Sandau did mention a
few other legislative con-
cepts the Farm Bureau is
following.
Lawmakers are likely
to revive a bill to cre-
ate a commodity commis-
sion for industrial hemp,
which Sandau said could
assist Oregon State Univer-
sity’s Global Hemp Inno-
vation Center with fund-
ing research and developing
markets for the crop.
The Legislature may
also try again on a state-
wide ban for chlorpyrifos,
a commonly used pesticide
in the Willamette Valley
where Sandau said nurseries
and specialty crop growers
have no other viable alterna-
tives. A proposed ban failed
during the 2019 session.
Wildfire is sure to be
another hot topic, Sandau
said, with the governor’s
120-page omnibus wildfire
response bill.
“This is a beast of a (leg-
islative concept),” he said.
“It is wide-reaching.”
Financial expert urges farmers to stop using LIBOR loans
The good side of SOFR is
that it can’t be easily manip-
ulated. The bad side is that
since it’s an overnight rate,
it varies day-to-day and bor-
rowers have no way of pre-
dicting how much they’ll
have to pay.
With LIBOR on the
verge of ending and another
imperfect SOFR system on
the horizon, Owens said he
understands farmers’ con-
cerns about what to do.
He advises that farmers
back out of LIBOR because,
when it ends in 2021, loans
will default to other inter-
est systems that may not be
to a farmer’s advantage and
that may carry greater risks.
Owens said he suggests
farmers find an alternative
that works better for them
well in advance.
One such alternative pro-
gram is available through
Farmer Mac, the organi-
zation Owens represents.
Farmer Mac has already
eliminated LIBOR from its
loan program, and instead
plans to offer credit at a cost-
of-funds rate so that bor-
rowers won’t have to worry
about the overnight rate
when SOFR kicks in.
“It’s gonna be a bridge
since borrowers don’t like
having a daily rate that
doesn’t let them see what
it’ll be until they pay it,” said
Owens.
Farmer Mac is a national
organization whose pur-
pose is to make credit more
affordable and available for
American agriculture and
rural communities. Farmer
Mac aims to make loans at
relatively low interest rates
available to farms, espe-
cially small-scale and fam-
ily-owned farms that might
otherwise be forced to close.
Owens said in 2019,
95% of the farms work-
ing with Farmer Mac were
family-owned.
Congress founded Farmer
Mac during the ag credit
crisis of the 1980s, which
Owens described as “a very
dark time for rural America.”
Owens said he hopes Farmer
Mac will continue to keep
rural America from reaching
such a crisis point again.
“I hope farmers take
action before things change
next year,” said Owens.
“We’ll still be around in
2021, knock on wood.” He
drummed his knuckles on
the table and laughed. “Con-
gress likes us, and so do
farmers.”
LEGAL
PURSUANT TO ORS
CHAPTER 87
Notice is hereby given that the
following vehicle will be sold,
for cash to the highest bidder, on
01/27/2020. The sale will be held
at 10:00am by
GEICO CASUALTY
2885 NATIONAL WAY WOODBURN, OR
2018 FORD MUSTANG CV
VIN=1FATP8UH3J5155109
Amount due on lien $1,275.00
Reputed owner(s)
REBECCA ANN BOND HEAGY
RED CANOE CREDIT UNION
LEGAL
PURSUANT TO ORS
CHAPTER 87
Notice is hereby given that the
following vehicle will be sold,
for cash to the highest bidder, on
01/27/2020. The sale will be held
at 10:00am by
NATIONAL GENERAL INSURANCE
2885 NATIONAL WAY WOODBURN, OR
2017 KIA SEDONA VAN
VIN=KNDMB5C14H6327572
Amount due on lien $1,315.00
Reputed owner(s)
ROBERT F & REBECCA L BUTLER
CENTRAL WILLAMETTE C.C.C
By SIERRA DAWN MCCLAIN
Capital Press
SALEM
—
Rob-
ert Owens, a Washington,
D.C.-based financial strat-
egy director for Farmer Mac,
said farmers whose loans are
tied to LIBOR interest rates
should switch interest pro-
grams before the risks get
too high.
“Get out fast,” said
Owens. “Be proactive as
borrowers. Talk to your
bank and say, ‘I don’t want
LIBOR anymore.’ Be ahead
of this game and eliminate
LIBOR exposures on loans.
Mitigate your risk.”
Owens spoke Thursday
at the 2020 Northwest Ag
Show in Salem, Ore.
LIBOR stands for Lon-
don Interbank Offered Rate,
used around the world as
the most common bench-
mark interest rate for making
adjustments to variable-rate
loans and credit cards.
LEGAL
ADELL LN STORAGE
2680 Cherry Ave. NE
Salem, OR 97301
(503) 399-7454
Unit AS-09 - William Meredith
Unit AS-33 - Elvis Cevantes
Unit AS-47 - Aaron Edmaiston
Unit AS-61 - Alena Virgilio
Unit AS-74 - Dennis O’Brien
Unit AS-99 - Tiffany Jones
Unit AS-114 - Dennis O’Brien
When: Jan 28, 2020 -10:00am
Where: Oregon FSA Office
7620 SW Mohawk St.
Tualatin, OR 97062
2680 Cherry Ave. NE
Salem, OR 97301
(503) 399-7454
Unit 33 - Kim Rivas
Unit 65 - Lillian Long
Unit 97 - Enrique “Ricky” Ramirez
Unit 98 - Jerry Stevens
Unit 114 - Kim Rivas
Unit 131 - Steven Ruchedeschel
Unit 142 - Enrique “Ricky” Ramirez
Unit 188 - Blas Nunez Vizcaxa
Unit 196 - Kenneth Kish
Unit 206 - Ronald Burton
Unit 220 - Steven Ruchedeschel
Unit 222C - Ashley Bailey
Unit 237P - Krista Woods
Unit 239U - Blas Nunez Vizcaxa
Cherry Avenue Storage reserves the
right to refuse any and all bids.
LIBOR,
Owens
explained, was in part
responsible for manipulating
the interest rate that led to
the financial crisis in 2008.
Because of its role in allow-
ing artificially low interest
rates, Owen said, regulators
have “vilified” LIBOR.
Regulators have said that
by the end of 2021, LIBOR
will no longer exist in the
U.S. and will be replaced by
SOFR, a secured overnight
rate of lending.
OREGON TECHNICAL ADVISORY
COMMITTEE MEETING (OTAC)
CHERRY AVE STORAGE
Auction is:
Saturday, February
8th, 2020 at 10 AM
Sierra Dawn McClain/Capital Press
Robert Owens of Farmer Mac spoke about interest rates
on ag loans Thursday at the Northwest Ag Show in Salem.
For more information, or to
arrange special accommodations
for meeting attendees, please
contact Julie MacSwain at
503-414-3250 or email to:
Julie.macswain@usda.gov
S151537-1
LEGAL
PURSUANT TO ORS
CHAPTER 87
Notice is hereby given that the
following vehicle will be sold,
for cash to the highest bidder, on
01/31/2020. The sale will be held
at 10:00am by
COPART OF WASHINGTON INC
2885 NATIONAL WAY WOODBURN, OR
2016 JEEP RENEGADE 4DR
VIN=ZACCJBDTXGPC86647
Amount due on lien $1,795.00
Reputed owner(s)
ROSEMARY POWERS & ESTHER WRIGHT
ONPOINT COMMUNITY C.U
S165839-1
tal or physical disabili-
ties, Schmidlkofer said, to
ensure succession does not
get muddled in those cases.
While these are some-
times depressing subjects
to consider, Schmidlkofer
said it is worth it to avoid
heartache and family rifts
later.
“If there is anything a
bad farm plan does, it is
tear apart a family,” she
said. “You do not recover
from that.”
To highlight common
errors, Schmidlkofer used
several examples from
real-life celebrity cases.
Actor James Dean, who
died in 1955 at age 24,
never wrote a will, mean-
ing his entire estate was
passed to his father —
even though his father had
abandoned him as a child.
“The first lesson here is
to make sure you at least
get something in place,”
Schmidlkofer said.
Actress, singer and
model Marilyn Mon-
roe left 75% of her estate
to her acting coach, Lee
Strasberg, with “wishes”
to donate the rest to char-
ity. Strasberg later married,
however, and when he died
in 1982, the estate plus all
licensing and royalty fees
went to his widow.
Lawmakers
recently
announced a revised con-
cept for cap and trade,
which Sandau said is simi-
lar in structure to HB 2020.
The agriculture and timber
industries would be exempt
from purchasing allowances
under the program, though
he said producers would still
face increased costs for fuel,
natural gas, propane and
electricity.
What’s more, Oregon’s
carbon footprint makes up
just 0.7% of total U.S. emis-
sions, and 0.1% of global
emissions, Sandau said.
“There are lot of ques-
tions about how much eco-
nomic impact this would
have, versus how much ben-
efit in terms of collective
impact on the global scale,”
he said.
Angelita Sanchez, a
board member of the group
Timber Unity, which rallied
against HB 2020, went into
greater detail on the new-
est cap-and-trade proposal
during her seminar Wednes-
day at the Northwest Ag
S165840-1
Maria Schmidlkofer, an
Oregon attorney with 13
years of experience with
farm succession plans,
gave a seminar Wednes-
day at the 50th North-
west Ag Show.
George Plaven/Capital Press
Jonathan Sandau, public policy specialist at the Oregon
Farm Bureau, provided a legislative update Wednesday
at the 2020 Northwest Ag Show in Salem.
S165841-1
George Plaven/Capital Press
SALEM — While cap-
and-trade legislation is once
again expected to domi-
nate the 2020 Oregon Leg-
islature, it is hardly the only
proposal with serious impli-
cations for the state’s farm-
ers and ranchers.
Jonathan Sandau, public
policy specialist for the Ore-
gon Farm Bureau, provided
a legislative update Wednes-
day morning at the 50th
Northwest Ag Show, includ-
ing efforts to exempt agri-
cultural products from the
new “corporate activity tax”
that passed last year.
The short legislative ses-
sion begins Feb. 3 and runs
through March 8. Democrats
continue to hold a superma-
jority in both chambers of
the statehouse.
If 2019 was any indica-
tion, the return of cap-and-
trade legislation should stir
up plenty of controversy in
the weeks ahead. The pol-
icy calls for setting a cap on
carbon emissions to com-
bat climate change. Compa-
nies would then buy allow-
ances on the open market to
exceed the limit, and money
raised would go into a fund-
ing pool for climate-friendly
initiatives.
Introduced as House Bill
2020, cap and trade passed
the Oregon House along a
party-line vote last year but
was defeated in the Senate
after 11 Republican senators
staged a walkout and several
Democrats indicated they
would vote against the bill.
S167896-1
SALEM — As Oregon
farmers and ranchers get
older, the need for estate
planning is growing more
urgent to ensure working
lands remain in operation.
Maria Schmidlkofer, an
Oregon attorney with 13
years of experience with
farm succession plans,
knows the pitfalls all too
well.
Family dynamics, dis-
ability or lack of fore-
sight can all complicate
the passing of farmland
from one generation to the
next, Schmidlkofer said
during her educational
seminar Wednesday at the
50th annual Northwest Ag
Show in Salem.
According to a 2016
study by Oregon State Uni-
versity, Portland State Uni-
versity and Rogue Farm
Corps, farm operators over
the age of 55 now control
64% of the state’s agricul-
tural lands. That means
roughly 10 million acres
are likely to change own-
ership over the next two
decades.
It is up to lawyers like
Schmidlkofer, with the
firm Schwabe, William-
son & Wyatt in Salem, to
help that transition happen
smoothly with well thought
out succession plans.
“If you have a farm
in this room, chances are
you need a living trust,”
Schmidlkofer said. “It’s
just so much easier for tax
planning, for transition-
ing (farms) to the next gen-
eration. I think it’s just a
far superior way of doing
that.”
As part of her pre-
sentation, Schmidlkofer
explained the difference
between wills and trusts,
and outlined the pro-
cess of establishing a lim-
ited liability corporation
— or LLC — to incorpo-
rate multiple generations in
the farm who may one day
take over the business.
Most estate plans also
address things like men-
ally exempt from the tax at
the farm level.
“There’s just a lot of con-
fusion on how this actually
works on the ground for a lot
of these guys,” Sandau said.
Sandau said the best
solution is to create a sin-
gle, clear-cut exemption for
agriculture. The exemption
would also create an even
playing field between pro-
ducers who often don’t have
a say on where their prod-
ucts are sold, Sandau added.
“We very much think that
this is a technical problem
with the bill, and how it’s
applied,” he said.
